(UAL) United Air gapped down and is trading 10 % lower today on mutant virus news. Looking at a 200 day relative strength moving average, United traded under The S&P 500 Index (SPX) on June 29th. See stockchart below:
| United Airlines (UAL) |
Carriage Services, Inc. (CSV), in the death care industry, over a 39 week relative strength moving average, is trading 24 % above The S&P 500 Index (SPX). see stock chart below:
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| Carriage Services, Inc. (CSV) |
The Gold Miners Index (GDM) is battling a strong reversal area (support and resistance) located at $949.70. This has been going on for well over a year. This area is filled with multiple reversals. We love the “gold bug” commentators for their enthusiasm, but they are focused on the wrong information. See stock chart below.
| Gold Miners Index (GDM) |
Best Buy (BBY) sold off today by 15%. Looking at the weekly reversals (support and resistance) chart below, the stock is now well below the over year long sideways upper trading range. The “reversion to the mean” crowd must be high fiving.
| Best Buy Co. Inc. (BBY) |
Industry: Biotechnology
Stock chart below (RSMA):
VeriSign, Inc. (VRSN) |
| Apple, Inc. (AAPL) |
Walmart (WMT), not a trend to invest in, beats in this mornings earnings report and the stock continues to under-perform the stock market. The stock began to under-perform The SPDR S&P 500 Index ETF (SPY) on the week of November 17th, 2020, one year ago. Nothing has changed today. The trend indicator shows Walmart trading under The S&P 500 Index ETF (SPY) over a 39 week moving average by 7.1 %.
After topping in August of 2020, and going bearish, The Gold ETF (GLD) has put in a base, and is beginning to move up through overhead resistance. The stock chart below shows The Gold ETF making progress, weekly:
| Gold ETF (GLD) |
| Symbol TSLA F GT FSR LKQ SMP DORM HLLY APTV GPC QS THRM GNTX DRVN ADNT VC GM LEA XPEL MNRO BWA AXL BLNK LAZR DAN TEN GOEV MPAA PRTS STRT FUV CPS SRI SUP FFIE XL AYRO RMO RIDE | Stock Tesla Inc Ford Motor Co Goodyear Tire&Rubber Co Fisker LKQ Corp Standard Motor Products Inc Dorman Products Inc Holley Inc Aptiv Genuine Parts Co QuantumScape Gentherm Inc. Gentex Corp Driven Brands Holdings Inc Adient Plc Visteon Corp General Motors Company Lear Corporation Xpel Inc Monro Inc Borg Warner Inc American Axle & Manufact Blink Charging Co Luminar Technologies Inc Dana Incorporated Tenneco Inc Canoo Inc Motorcar Parts of America` Inc. CarParts.com Inc Strattec Security Cp Arcimoto Inc Cooper-Standard Holdings Stoneridge Inc Superior Industries International Inc Faraday Future Intelligent Electric Inc XL Fleet Corp AYRO Inc Romeo Power Inc Lordstown Motors Corp | % Diff 31.2 30.9 18.4 9.4 8.3 7.9 3.4 2.7 2.3 -0.1 -0.9 -1.3 -2.6 -2.8 -4.6 -4.9 -5.8 -6.8 -7.1 -8.3 -10.6 -11.7 -12 -13.7 -14 -17.3 -18.4 -18.7 -18.7 -19 -22.3 -27.5 -30.6 -34.6 -37.5 -40.9 -44.5 -48.9 -50.7 |
The North Shore Global Uranium Mining ETF (URNM) is outperforming, on a relative strength basis, the following ETFs, over a 39 week relative strength moving average:
•The SPDR S&P 500 ETF (SPY)
•The SPDR S&P Metals & Mining ETF (XME)
•The Global X Uranium ETF (URA)
After a rally of 93%, with a low on August 19th, and a high on September 15th, the Uranium Mining ETF (URNM) has triple topped, and now appears to be attempting a breakout…The breakout high is $98.48 …see stock chart below:
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| North Shore Global Uranium Mining ETF (URNM) |
The Russell 2000 Index ETF( IWM) has broken out and followed through, over a long term consolidation. The word ‘consolidation’ is code for underperformance. Underperformance relative to other indexes.
On a Relative Strength basis, the ETF is well below the 200 day relative strength moving average vs. The S&P 500 Index (SPX). The 21 and 50 day relative strength moving averages are above the S&P. So this may indicate a potential trend that may outperform The S&P long term. Look to see this relationship continue, and then begin to outperform on the 200 day.
The 21 day 50 day relative strength stock chart below:
| Russell 2000 Index ETF( IWM) |
Avis Budget Group Inc. (CAR) is the latest short squeeze in the on going short squeeze movie. Using our regular trendfollowing indicator, a 200 day relative strength moving average vs. The S&P 500 Index (SPX), Avis is trading 256% over the indicator. Stock chart below:
| Avis Budget Group Inc. (CAR) |
Tesla Inc. (TSLA) is trading 53% above The S&P Index (SPX) over a 200 day moving average. Stock chart below:
| Tesla Inc. (TSLA) |
Ferrari N.V. (RACE), the iconic sports car manufacturer, turned EV (electric vehicle) manufacturer, is breaking out, at an all time high, and trading above The S&P 500 Index (SPX) on a 39 week relative strength moving average. Stock chart below:
| Ferrari NV (RACE) |